How Will Buying a Vacation Home Affect My Taxes?
The vacation home-buying craze spurred by the COVID-19 shutdowns has started to fizzle out, which is great news if you are still in the market for a getaway home. While vacation home sales skyrocketed 17% in 2020 and 33% in 2021, by the middle of 2023 demand had dropped off 50% below pre-pandemic levels, according […]
Does My Age Affect My Mortgage Eligibility?
Ever stopped to ponder how age can shape your journey into the world of mortgages? Well, today, we’re diving headfirst into this intriguing aspect of homeownership. Buckle up because we’re about to explore how your age can sway the tides of mortgage eligibility and terms you’re offered. 1. Breaking Down the Minimum Age Barrier First […]
The Top 5 Reasons Fixed-Rate Mortgages Are Your Wealth-Building BFFs
When it comes to home loans, fixed-rate mortgages are the bread-and-butter of the market and for good reason. If you’re all about making savvy financial moves, you’ll want to learn these golden knowledge nuggets that will show you why fixed-rate mortgages should absolutely be on your radar. It’s time to explore how these financial rock […]
Minimizing the Effect of Job Loss on Your Mortgage
In the dynamic landscape of personal finance, job loss can send shockwaves through your financial stability, particularly when it comes to managing your mortgage. Yet, with appropriate preparation and a little knowledge you can navigate these turbulent waters and stay afloat in your home loan after losing a job. The Financial Tsunami Losing your job […]
Is Refinancing my Mortgage to Eliminate High-Interest Debt a Smart Move?
Are you tired of juggling a pile of bills, from high-interest credit card debts to personal loans and auto payments? If so, there might be a financial strategy that could simplify your life: refinancing your mortgage to consolidate all those debts. In this article, we’re diving into the nitty-gritty of mortgage refinancing for debt consolidation […]
Understanding Mortgage Prepayment Penalties: The Hidden Costs
Mortgage prepayment penalties can be a perplexing aspect of your home financing journey. Essentially, they are fees imposed by lenders when you pay off your mortgage earlier than agreed upon or exceed the specified payment limits. These fees are designed to compensate lenders for potential interest losses but can become significant financial hurdles if you’re […]
Choosing Between a 5/1 and 7/1 ARM?
With 30-year mortgage rates now topping 20-year highs, borrowers are looking to alternative loan options to save money on home loans. Adjustable rate mortgages (ARMs) are becoming more popular as homebuyers and refinancers look for lower introductory interest rates. Among ARMs, the 5/1 and 7/1 ARMs stand out as compelling choices. These adjustable-rate mortgages offer […]
Warm Wishes for a Merry Christmas!
‘Tis the season to be jolly and to be filled with gratitude and holiday cheer! As the year comes to a close, we want to take a moment to extend our warmest Merry Christmas wishes to all our wonderful customers who have made this year truly special. In the spirit of the season, we reflect […]
What Are the Tax Benefits of Homeownership?
Today, we’re about to embark on a journey that delves into the intricate world of financial wisdom concealed within the very walls of your home. We’ll unravel the hidden tax treasures that homeownership bestows upon the wise. It’s not merely about bricks and mortar; it’s about leveraging the fiscal advantages of owning your abode. Mortgage […]
The Rise of House-Hacking Among Millennials and Gen Z
Amidst escalating home prices and rising interest rates, a notable trend is gaining traction among Gen Z and millennial homebuyers: “house hacking.” This innovative strategy involves renting out a part or the entirety of a home to generate supplementary income, acting as a financial buffer in a challenging housing market. Recent data from Zillow reveals […]